Understanding “Swiftonomics”: creative destruction or more of the same?

Abstract

This article critically examines the concept of “Swiftonomics”, widely used in media and policy discourse to describe the economic and cultural impact of Taylor Swift. For cultural policy, it is important to interrogate such economic impact-centred approaches and understand the broader conditions of such cultural value production. Drawing on insights from “rockonomics” and Schumpeter’s theory of creative destruction, the article evaluates whether Swift’s activities represent structural transformation or the intensification of existing industry dynamics. Focusing on three domains–economic impact, business models, and fan engagement–it demonstrates that while the scale of Swift’s success is unprecedented, the underlying mechanisms are not qualitatively new. Rather than displacing existing structures, “Swiftonomics” reflects the amplification of established patterns within the cultural economy, including superstar effects, platform-mediated visibility, and event-based consumption. “Swiftonomics” is therefore understood as a discursive construct rather than a distinct economic paradigm. Identified implications for cultural policy emphasise the need to move beyond short-term economic impact narratives toward strengthening cultural ecosystems and addressing structural inequalities in the creative industries.